Rungta Mines, one of the largest merchant miner of Iron ore with an annual production capacity of about 12 million tonnes and the largest exporter of Iron ore in private sector, having mining operations in the state of Odisha and Jharkhand, has maintained Iron ore prices for the rest of September.
Iron ore lumps
5-18 mm & Fe 65: Rs 6,700/MT
5-18 mm & Fe 63: Rs 6,400/MT
10-30 mm & Fe 65: Rs 6,050/MT
10-30 mm & Fe 63: Rs 5,870/MT
Iron ore fines
Fe 63: Rs 2,250/MT
(Prices loaded to wagons at major sidings in Barbil, Odisha; Including royalty)
The miner has maintained Iron ore offers at similar levels looking at improved demand for the raw material in the past couple of weeks.
Availability of Iron Pellet in limited quantities with the Odisha based manufacturers has also accounted for a better demand.
The latter have been concentrating on overseas market supply and shipment for the export deals concluded in the month of August.
Export market for Rungta Mines was quite favorable because of weak Rupee at around 63-65 levels against US Dollar and Fe 63.5/63 Iron ore prices standing at an average of 136/MT CFR China, in the last two weeks.
The miner had raised Iron ore lumps (5-18 mm & Fe 63) prices by Rs 200/MT w.e.f September 03, after 1 year and 4 months time due to increase in domestic Iron Pellet and Sponge iron prices.
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